Despite a tough fundraising climate for direct-to-consumer brands, Quince has surged ahead. The affordable luxury label, famous for $50 cashmere and viral TikToks, just secured a major funding round that cements its position as one of the fastest-growing names in retail. Here's what you need to know:
Quince is raising $200 million in new funding, valuing the company at over $4.5 billion, more than double its previous valuation.
The round is led by Iconiq, the investment firm managing the fortunes of Mark Zuckerberg and Jack Dorsey, highlighting elite investor confidence.
Quince built a loyal fan base through Instagram and TikTok virality, selling high-quality basics like $50 cashmere sweaters and even discounted caviar.
By shipping directly from factories and cutting out middlemen, Quince mimics the Temu/Shein model, keeping prices low while maintaining quality.
While most DTC brands struggle with rising ad costs and weak sales, Quince impressed investors with fast-growing revenue.
Quince is growing by offering high-quality essentials at fair prices. With growing sales and loyal customers, the brand is gaining investor attention.
Quince offers luxury essentials made from premium materials like Mongolian cashmere and Italian leather, at prices that make sense.
Not a customer yet, and want to build the perfect pipeline of qualified brands and contacts looking for your solution? Book a demo with Charm today.